Business Cycle Volatility and Globalization: A Survey
This paper explores the link between the globalization of capital and business cycle volatility. It contends that one potentially adverse effect of globalization is the possibility that business cycle volatility may increase. Rapid and badly coordinated capital account liberalization, the author points out, has been blamed for increasing the vulnerability of emerging markets to unstable international capital flows.
© 2002 Kiel Institute for the World Economy
Claudia M Buch
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